Me and my partner are about to complete on the purchase of a house in Witney but as a result of damage from a small fire at the property I have was able negotiate compensation from the seller in the sum of £2k taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however RBS are not allowing this. Why were they involved?
Any conveyancing practitioner being on a RBS conveyancing panel is required to inform RBS of any amendments to the sale price. If you were to refuse your property lawyer to report the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new lawyer for your conveyancing in Witney.
I'm the only beneficiary of my late father’s will with all property in now in my sole name, including the house in Witney. Conveyancing formalities meant that the Land Registry date was in April. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be considered the same way as if I'd bought the property in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Some mortgage companies would take a pragmatic view as this clause is primarily there to capture subsales or the flipping of property.
Two weeks ago we had a mortgage agreed in principle with Clydesdale. Witney conveyancing solicitors are appointed. How long does it take for Clydesdale to send the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Clydesdale conducted the survey? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am currently in the process of buying my council flat in Witney. I have a mortgage agreed with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I am looking for a flat up to £305k and found one round the corner in Witney I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Witney in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
How can the Landlord & Tenant Act 1954 impact my business premises in Witney and how can your lawyers assist?
The 1954 Act provides security of tenure to business lessees, granting the dueness to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Witney is one of the numerous areas of the UK in which our lawyers have offices
My husband and I are 17 days into a leasehold purchase having been recommend to conveyancers by the selling agent to handle our conveyancing in Witney. I am am very dissatisfied with the quality of service. Could you you assist me in finding new conveyancers?
A solicitor would have to be really poor in order to consider replacing them. Has the mortgage offer been generated? If so you need to make them aware of the new lawyer and have the offer are re-sent. Your new conveyancer needs to be on the banks panel to avoid added expenses and delays. So that should be your starting point. Our search tool can help you find a lender approved conveyancer for your home move in Witney
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Witney. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Witney ?
Most houses in Witney are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Witney in which case you should be looking for a Witney conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
Leasehold Conveyancing in Witney - Sample of Queries Prior to Purchasing
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It would be sensible to find out if there is anything that is prohibited in the lease. For instance it is fairly common in Witney leases that pets are not permitted in in a block in Witney. If you love the apartmentin Witney however your cat is not allowed to live with you then you will be faced difficult decision. If a Witney lease has fewer than 80 years it will have adverse implications on the value of the flat. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Witneylease extensions you will be required to have owned the premises for 24 months in order to be entitled to exercise a lease extension.